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Money Managers

Federated Investors’ assets flat for quarter, down 2% for year

Federated Investors (FII) reported $360.4 billion in assets under management as of June 30, flat from March 31 and down 2% from June 30, 2016, the company said in its second-quarter earnings statement released Thursday.

Federated's equity assets reached a record $65.8 billion as of June 30, up 1.6% from March 31 and up 6.3% from the year earlier. Net equity outflows totaled $966 million in the second quarter, compared to net outflows of $1.4 billion in the first quarter and net inflows of $2.8 billion in the second quarter of 2016.

The firm's fixed-income assets were $52.5 billion as of June 30, up 1.4% from the end of the previous quarter and up 4.3% from the same time a year prior. Net inflows for fixed income totaled $14 million for the quarter, compared to net outflows of $326 million for the previous quarter and net outflows of $1.9 billion for the same time a year prior.

Money market assets were $242.1 billion, down 1% from March 31 and down 5% from June 30, 2016.

Total revenue for the quarter was $272.8 million, flat from the prior quarter but down 5% from the year-earlier quarter. Net income for the quarter was $53.5 million, up 8% from the first quarter and up 1% from the second quarter of 2016.